Vistra Corp. sees strong Q1 growth and bullish outlook on power deals with tech giants.

Vistra Corp. reported a 20% year-over-year increase in adjusted EBITDA for Q1 2026, driven by improved energy margins and acquisitions. Revenue rose to $5.63 billion with a 26.6% operating margin. The company benefits from long-term power purchase agreements with major hyperscalers like Meta and AWS, supporting rising electricity demand for AI and data centers. Management forecasts 20.4% free cash flow growth for FY26, though risks include hyperscaler spending volatility and regulatory challenges.